Buying an apartment is a serious matter. Especially if you plan to take a mortgage loan on it. How to make the right choice? Where it is better to look for an apartment – in the primary or secondary market? It should be noted that both of these options have their advantages and disadvantages.
On the one hand, if you decide to buy an apartment in an installment house in a house under construction, that is, a chance to buy it is cheaper than in the secondary market, until the building has yet been put into operation. At the same time, you will get housing of increased comfort, with new communications and more convenient layout. In addition, preferential mortgage programs are provided for such housing.
On the other hand, apartments in the secondary market can be in excellent technical condition, since such facilities include the housing that was put into operation, say, five to seven years ago, but now its owners for family reasons are looking for the apartments more spacious or, or, more. On the contrary, they want to leave. So the quality of construction and the price of the object are determined in each case and depend on many factors.
The disadvantage of the apartment in the primary market is a high level of risk, because if the construction of the house has not yet been completed, there are no guarantees that even the most decent and responsible builder will bring it to the end due to the situation in the economy in general and in the construction market in particular. The disadvantage of objects in the secondary market is that they, firstly, are less liquid, and secondly, not every bank gives a mortgage loan for them. And finally, they need to have an additional verification of the legal purity of the transaction. So the choice in each case depends on the priorities of the buyer and his readiness for risk.